International Paper (NYSE:IP) Upgraded at Argus

International Paper (NYSE:IP) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other analysts also recently issued reports on IP. Wells Fargo & Company increased their price objective on shares of International Paper from $66.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Paper from $49.00 to $58.00 in a research report on Monday, April 19th. KeyCorp increased their price objective on shares of International Paper from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, April 30th. Jefferies Financial Group increased their price objective on shares of International Paper from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, June 4th. Finally, Morgan Stanley increased their price objective on shares of International Paper from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, May 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. International Paper has a consensus rating of “Buy” and an average target price of $61.10.

IP opened at $62.83 on Friday. The business’s 50 day simple moving average is $60.04. The firm has a market cap of $24.61 billion, a P/E ratio of 25.54 and a beta of 1.06. International Paper has a 1 year low of $32.59 and a 1 year high of $65.27. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 1.45.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 29th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.17. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.34 billion. International Paper had a net margin of 4.72% and a return on equity of 15.84%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, analysts expect that International Paper will post 4.84 EPS for the current year.

In other International Paper news, SVP John V. Sims sold 8,909 shares of the firm’s stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $62.87, for a total value of $560,108.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Grandview Asset Management LLC acquired a new position in shares of International Paper during the first quarter valued at $51,000. Piscataqua Savings Bank acquired a new position in shares of International Paper during the first quarter valued at $27,000. Mascoma Wealth Management LLC acquired a new position in shares of International Paper during the first quarter valued at $32,000. Vantage Consulting Group Inc acquired a new position in International Paper during the fourth quarter worth about $30,000. Finally, Wealthcare Capital Management LLC bought a new stake in International Paper in the first quarter worth about $34,000. 80.14% of the stock is currently owned by institutional investors.

International Paper Company Profile

International Paper Company operates as a paper and packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Analyst Recommendations for International Paper (NYSE:IP)

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